Occidental Petroleum (NYSE:OXY) Trading 0.2% Higher – Still a Buy?

Occidental Petroleum Co. (NYSE:OXY) shot up 0.2% on Wednesday . The stock traded as high as $49.11 and last traded at $49.08. 1,401,452 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 9,395,317 shares. The stock had previously closed at $49.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on OXY shares. Wells Fargo & Company decreased their price target on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Barclays cut their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Scotiabank decreased their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Bank of America initiated coverage on Occidental Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target for the company. Finally, UBS Group reduced their price objective on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $62.19.

Occidental Petroleum Stock Performance

The company has a market capitalization of $45.89 billion, a PE ratio of 12.74 and a beta of 1.57. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The business has a 50 day simple moving average of $49.63 and a 200 day simple moving average of $52.84.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.22 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.80%. Occidental Petroleum’s payout ratio is 22.92%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 3,614,015 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the purchase, the insider now directly owns 264,178,414 shares in the company, valued at approximately $12,046,535,678.40. This trade represents a 1.39 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Segment Wealth Management LLC increased its stake in shares of Occidental Petroleum by 5.2% during the third quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock worth $205,000 after purchasing an additional 196 shares in the last quarter. Wealth Alliance Advisory Group LLC raised its holdings in shares of Occidental Petroleum by 2.2% during the third quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock valued at $474,000 after acquiring an additional 200 shares during the last quarter. Leavell Investment Management Inc. lifted its position in shares of Occidental Petroleum by 3.3% in the third quarter. Leavell Investment Management Inc. now owns 6,241 shares of the oil and gas producer’s stock valued at $323,000 after acquiring an additional 200 shares in the last quarter. Empire Financial Management Company LLC boosted its stake in Occidental Petroleum by 4.1% during the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock worth $329,000 after purchasing an additional 250 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in Occidental Petroleum by 3.2% during the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock valued at $398,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.